Fennec Pharmaceuticals (NASDAQ:FENC) Stock Price Down 4.9%

Fennec Pharmaceuticals Inc (NASDAQ:FENC)’s share price traded down 4.9% during mid-day trading on Monday . The company traded as low as $5.16 and last traded at $5.20. 85,637 shares were traded during trading, a decline of 27% from the average session volume of 118,112 shares. The stock had previously closed at $5.47.

Analysts Set New Price Targets

A number of research analysts have recently commented on FENC shares. Wedbush reissued an “outperform” rating and set a $14.00 price objective (down previously from $16.00) on shares of Fennec Pharmaceuticals in a report on Tuesday, August 13th. HC Wainwright cut their target price on Fennec Pharmaceuticals from $15.00 to $13.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. Finally, Craig Hallum lowered their target price on Fennec Pharmaceuticals from $17.00 to $15.00 and set a “buy” rating for the company in a research note on Wednesday, August 14th.

Fennec Pharmaceuticals Stock Down 4.9 %

The firm has a 50 day simple moving average of $5.89 and a two-hundred day simple moving average of $7.64. The company has a quick ratio of 7.75, a current ratio of 8.02 and a debt-to-equity ratio of 9.86. The stock has a market capitalization of $142.27 million, a P/E ratio of 173.33 and a beta of 0.26.

Fennec Pharmaceuticals (NASDAQ:FENC) last announced its quarterly earnings results on Tuesday, August 13th. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.26). Fennec Pharmaceuticals had a net margin of 5.59% and a negative return on equity of 53.38%. The firm had revenue of $7.26 million during the quarter, compared to the consensus estimate of $13.67 million. During the same quarter in the previous year, the company posted ($0.21) earnings per share. On average, equities research analysts expect that Fennec Pharmaceuticals Inc will post 0.27 earnings per share for the current year.

Institutional Trading of Fennec Pharmaceuticals

A number of large investors have recently bought and sold shares of the business. Acadian Asset Management LLC bought a new position in shares of Fennec Pharmaceuticals during the 2nd quarter worth about $49,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Fennec Pharmaceuticals during the 2nd quarter worth approximately $69,000. Jump Financial LLC purchased a new stake in shares of Fennec Pharmaceuticals during the 4th quarter worth approximately $158,000. Rhumbline Advisers grew its stake in Fennec Pharmaceuticals by 44.7% in the 2nd quarter. Rhumbline Advisers now owns 29,110 shares of the company’s stock valued at $178,000 after buying an additional 8,987 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its stake in Fennec Pharmaceuticals by 67.7% in the 1st quarter. BNP Paribas Financial Markets now owns 32,769 shares of the company’s stock valued at $364,000 after buying an additional 13,223 shares in the last quarter. 55.51% of the stock is currently owned by institutional investors and hedge funds.

Fennec Pharmaceuticals Company Profile

Fennec Pharmaceuticals Inc, a biopharmaceutical company, develops product candidates for use in the treatment of cancer in the United States. Its lead product candidate is the Sodium Thiosulfate, which has completed the Phase III clinical trial for the prevention of cisplatin induced hearing loss or ototoxicity in children.